I was having a lovely time with the folks from British Airways yesterday evening, when, out of the blue, I received an email from easyJet founder Stelios Haji-Ioannou telling me he’s not thrilled about yesterday’s post “easyLove easyGo At easyJet.”

Finally we chat. He’s friendly. This is a man who when I first met him at last year’s easyJet AGM, swooped up the stairs to catch a woman who’d slipped on the escalators. He then gave a member of cabin crew and myself a lift to easyJet’s HQ Hanger 89.

After chatting about the liquidity collar transactions I mentioned in yesterday’s post, he tells me he’s going to write a letter next week — probably Tuesday afternoon — calling for the removal of one of the nonexecutive directors at easyJet. He hasn’t decided which one and it isn’t personal. He won’t go for Rake because he’s the chairman. He’d like to suggest the removal of Harrison, but what’s the point when he’s leaving anyway.

The decision to call for someone’s head to be handed on a plate is because “no good deed goes unpunished.” So now it’s payback time for his previous good behavior over the Harrison vote.

He’s referring to being told by easyJet Chairman Sir Michael Rake to abstain from voting on outgoing Chief Executive Andy Harrison’s bonus [Read easyJet CEO: Because I'm worth it here]. He’s been asked to keep a lid on things and told disagreements should be aired at board meetings and not in public.

Now that he is no longer on the board, he seems intent on singing his cause louder, and I suspect the din will continue until he finally gets what he wants.

The removal of a nonexecutive director is part of Stelios’s ongoing shareholder activism plan to stop the airline growing its fleet, and instead reward shareholders with a dividend. If shareholders vote to keep the nonexecutive director, it means they are happy with path easyJet’s management has taken and Stelios loses. If they vote to get rid of the guy then, they are onside with Stelios. This seems a high risk strategy.

There’s no love lost at easyJet these days — well certainly not between founder Stelios Haji-Ioannou and the board.

Just how much the relationship has deteriorated between Stelios and outgoing Chief Executive Andy Harrison was revealed in the recent High Court case over the brand licence. There’s a chilly silence when their paths cross.

AFP/Getty Images

EasyJet’s outgoing CEO Andy Harrison.

Of course there were the important questions such how he would define core revenue, are toilets core or non-core, overhead lockers, infants sitting on parent’s laps. You get the picture.

But once you get past the comedy, there’s something rather interesting happening.

The High Court has been asked to help clarify how the terms of the brand licence should be interpreted — namely the 75:25 rule stating that easyJet isn’t allowed to earn more than 25% of its revenue from ancillary income. But what comes under ancillary? easyJet argues bag charges are part of the core income, where as Stelios says its an extra charge and should be counted as non-core.

This rule prevents easyJet becoming a conglomerate and easyGroup becoming an airline.

Let’s look at the half year results. Ancillary revenue at £258.3 million is 22% of easyJet’s total revenue of £1.18 billion for the six months to March 31. Bag charges were £107.7 million.

So there’s no risk that easyJet has actually breached that 25% rule. So why all the noise?